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Alkermes Enters Pact With Alza
To Develop Brain-Cancer Drug

By

Laura Johannes Staff Reporter of The Wall Street Journal

Updated Oct. 6, 1997 12:37 a.m. ET

CAMBRIDGE, Mass. -- Alkermes Inc. will receive up to $60 million under a partnership with Alza Corp. to develop RMP-7, a brain-cancer drug that some on Wall Street had written off after disappointing clinical trial results in March.

Alza, a Palo Alto, Calif., drug-delivery company that owns 10% of Alkermes, reviewed those results, some of which were not publicly available, and decided to fund further trials. "Despite the results shown in March, we believe there is a product there," says Robert Myers, Alza vice...